The XAUUSD weekly chart shows the following signs:
The XAUUSD had made double top at 1380 and double bottom at 1200 the last 11 months, almost a year now. Target remains neutral this week expecting the behavior of the XAUUSD between the Kijun Sen and Span B of the KUMO cloud. If it moves towards the 1285 and below then the bearish scenario will be stronger. If it moves into the cloud then more consolidation will be expected.
The MACD has given a bearish sign and the RSI too marginally.
The XAUUSD had made double top at 1380 and double bottom at 1200 the last 11 months, almost a year now. Target remains neutral this week expecting the behavior of the XAUUSD between the Kijun Sen and Span B of the KUMO cloud. If it moves towards the 1285 and below then the bearish scenario will be stronger. If it moves into the cloud then more consolidation will be expected.
The MACD has given a bearish sign and the RSI too marginally.
